SEIPI to sign deal with French tech firm

The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) is entering a partnership deal with Angers French Tech in a bid to strengthen trade relations between the Philippines and France.

"SEIPI is expected to enter into an MOU (memorandum of understanding) signing agreement with Angers French Tech (AFT) to promote bilateral activities and exchange of information primarily to boost bilateral trade and Philippine export expansion," the group said in a statement on Thursday.

SEIPI is the largest organization of foreign and Filipino electronics companies in the Philippines.

The partnership aims to establish links with French start-ups, including investors, entrepreneurs, engineers, designers, developers, corporations, associations, government , and research institutes, the group said.

MOU is scheduled to be signed when SEIPI representatives visit Paris on October 26 for a series of business matching activities.

“The prelude to this partnership is the signing of a Memorandum of Understanding between SEIPI and AFT in DTI International-Manila on June 11, 2018, to formalize their plans to set up a French Pavilion in the Philippine Semiconductor and Electronics Convention and Exhibition (PSECE) in 2019.

This time, on October 26, 2018, both SEIPI and AFT will commit to a mutual promotion of events and placing an office for SEIPI in France.

“The MOU with AFT is one of the strategies of SEIPI to capture a bigger share in the Internet of Things (IOT) since France is one of the Philippines’ fastest growing export markets among the country’s trading partners,” it said.

In 2017, France was the Philippines’ 16th biggest trading partner, with bilateral trade valued at $1.73 billion or 1.05 percent share of the Philippines’ $164.81-billion trade with the world.

France was also the Philippines’ 13th largest export market, accounting for 1.18 percent of the country’s of $68.71-billion exports to the world and.

In terms of imports, France sends the 17th largest to the Philippines—or 0.96 percent of $96.09 billion in total imports from the world. —VDS, GMA News